Loan Programs

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Loan Programs

Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. These programs are outlined below.

The Free Application for Federal Student Aid (FAFSA) is required to determine eligibility for all loans below, except the “Private Education Loan Program” and the “Leo S. Rowe Fund.” For applicable loans, the FAFSA should be submitted by the preferred filing date:

Qualifications: Must be a US citizen or legal resident; not based on financial need

Award value: Up to the published cost of attendance less any other financial aid

Interest rate: 7.9% (fixed)

Loan fees: 4% deducted from disbursement

Grace period: Enters repayment within 45-60 days after graduation or enrollment at less than half time. A forbearance may be arranged with the loan servicers that will align repayment to begin with the Stafford loan.

Dougherty Foundation

Qualifications: Must be a US citizen and an Arizona resident for a minimum of two years prior to enrollment

Award value: Maximum$1,000 per trimester or $2,000 per 12 months

Interest rate: 5% for first six years of repayment, 8% for remaining repayment period on unpaid balance

Loan fees: None

Grace period: 9 months

Private Education Loan Program: Non-government loans

Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit history

Award value: Up to the published cost of attendance per year, depending on lender, credit and other financial aid